Trapview, a Hrusevje, Slovenia-based insect monitoring and forecasting platform, announced that it closed €10 million in Series B funding round from the European Circular Bioeconomy Fund (ECBF), Demeter, and Pymwymic.
This financing will accelerate Trapview's commercial development in Brazil, Europe (starting with France, Italy, and Spain), and the USA. Trapview promotes the transition to more sustainable farming practices by reducing pesticides and protecting biodiversity and consumers' health.
Developed by the Slovenian company EFOS, Trapview solutions are present in more than 40 countries around the world and crops ranging from tomatoes in Brazil, almonds in California, vines in Italy, and salad greens in France and Spain. Farmers can take informed and timely crop protection measures in a targeted manner instead of spraying entire crops with pesticides preventively.
"Modern, sustainable insect crop protection is almost impossible without accurate, reliable, and up-to-date data about pest population and development. Trapview is recognised as the world's most advanced and complete solution in this space. I'm excited that such renowned and experienced investors participating in our Series B round share our vision and support our ambitions to become a global leader in the segments we are in", Matej Stefancic, CEO and co-founder of EFOS, said.
Company: EFOS d.o.o.
Round: Series B
Funding Month: September 2022
Lead Investors: European Circular Bioeconomy Fund (ECBF), Demeter and Pymwymic
Company Website: https://trapview.com/
Software Category: Insect monitoring and Forecasting platform
About the Company: Trapview is a pest insect monitoring and forecasting platform developed by the Slovenian company Efos. Trapview's automated traps send real-time data to farmers about the pest situation in their fields and use artificial intelligence to analyze and predict the development of pest dynamics. Through its grid of automated, nearly maintenance-free insect traps, together with advanced artificial intelligence-based processing, it offers real-time insights into the pest insect population. Trapview can monitor more than 50 insect species, bringing value to a large spectrum of farmers and other stakeholders in agriculture. With thousands of traps deployed in fields, the company currently owns the world's largest database of pest data and predictive algorithms.